The company has completed numerous divestitures and acquisitions
The company has made various acquisitions and divestitures in recent years. For example, in October 2018, the company acquired its outstanding shares of public traded company Amplify Snack Brands, Inc. that owns numerous snack brands, including Oatmega and SkinnyPop. Additionally, in September 2019, ONE Brands, LLC, a company that sells nutrition bars with low sugar and high protein, was acquired by the Hershey Company. Then, during the second quarter of 2020, the company divested its Scharffen Berger and Dagoba brand and its KRAVE Pure Foods, Inc. (“Krave”) division. More recently, the company completed its divesting of Lotte Shanghai Foods Co., Ltd., which took place in January 2021. This acquisition is expected to help the Hershey Company expand its product portfolio, which will likely attract more consumers looking to satisfy their snack cravings.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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